Premium Brand Holdings Completes Sale-Leaseback of Tennessee Plant
Canadian specialty foods processor Premium Brand Holdings Co. has completed a sale-leaseback transaction for its Tennessee food processing facility, generating $166 million in capital that the company can invest in its core business.
Real estate investment trust (REIT) W.P. Carey will be the owner of the 350,000-sq.-ft. facility, which Premium Brands (a subsidiary of the parent company) will now lease and use for continued operations. Premium Brand Holdings, which is headquartered in British Columbia, previously completed a sale-leaseback on its Washington state facility in late 2024.
The facility was completed in May 2025 by Premium Brand Holdings, and it is expected to receive LEED Silver certification. The facility is triple-net leased — meaning Premium Brands will pay real estate taxes, property insurance and maintenance costs along with the rent — for 25 years with fixed annual rent increases.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.